edgewell personal care co (EGZ) Details

Edgewell Personal Care Company manufactures and markets various personal care products in the wet shave, skin care, feminine care, and infant care categories. It offers Schick and Wilkinson Sword men's and women's shaving systems and disposable razors in wet shave; Edge and Skintimate shave preparations; Playtex, Stayfree, Carefree, and o.b. feminine care products; Banana Boat and Hawaiian Tropic sun care products; Playtex infant feeding, Diaper Genie, and gloves; and Wet Ones moist wipes. The company sells its products through direct sales force, distributors, and wholesalers. It has operations in approximately 50 markets, including the United States, Canada, Mexico, Germany, Japan, and Australia. The company was formerly known as Energizer Holdings, Inc. and changed its name to Edgewell Personal Care Company in June 2015. Edgewell Personal Care Company was founded in 1999 and is headquartered in Chesterfield, Missouri.

edgewell personal care co (EGZ) Key Developments

Energizer Holdings Inc. announced that its newly formed Board of Directors initiated a dividend program by declaring a dividend of $0.25 per share of common stock, payable on September 9, 2015, to all shareholders of record as of the close of business on August 19, 2015. Subject to declaration by the Board, Energizer anticipates paying a $0.25 per share cash dividend each quarter, with expected dividend payment dates in March, June, September and December. Future declarations of dividends are subject to Board approval and may be adjusted at the discretion of the Board, as business needs or market conditions change.

Energizer Holdings Inc. Provides Financial Guidance for Fiscal 2016

Jun 2 15

Energizer Holdings Inc. provided financial guidance for fiscal 2016. Annualized run rate for EBITDA would be in the $310 million to $325 million range. Divisional capital spending, excluding IT and corporate, has averaged around $30 million to $40 million. Going forward, including IT and corporate, the spending is expected to be in the range of $35 million to $45 million. Estimating a 31% to 33% effective tax rate. The parent company effective tax rate is around 29%, 29% to 30% historically. And free cash flow, remaining in the top tier of its peer group and free cash flow generation, expecting free cash flow to be in the 10% to 12% of sales.

On June 1, 2015, Energizer Holdings Inc. entered into a senior unsecured revolving Credit Agreement (the Credit Agreement or the Revolving Facility) with JPMorgan Chase Bank, N.A., as administrative agent, and Bank of America, N.A., The Bank of Tokyo-Mitsubishi UFJ Ltd., and Citibank, N.A., as co-syndication agents, to borrow up to $600 million under a senior unsecured revolving loan. The Revolving Facility was undrawn on such date and the commitments of the lenders thereunder are contingent on Energizer's satisfying certain conditions to funding on or before July 2, 2015, including, without limitation, the completion of the Spin-Off (such date of satisfaction, the Effective Date). The Credit Agreement includes (i) a $25 million sublimit for the issuance of letters of credit on customary terms and (ii) a $10 million sublimit for swing line loans on customary terms. Energizer expects that the Revolving Facility will be used for general corporate purposes, including to refinance existing indebtedness and pay transaction fees and expenses in connection with the previously announced separation of Energizer's household products and personal care divisions (the Spin-Off). Borrowings under the Revolving Facility will bear interest at a rate per annum equal to, at the option of Energizer, (i) LIBOR plus the applicable margin of 1.075% - 1.575%, based on total leverage, or (ii) the Alternate Base Rate plus the applicable margin of 0.075% - 0.575%, based on total leverage. The loans and commitments under the Revolving Facility will mature or terminate on the fifth anniversary of the effective date.

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